MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $13.09 Million Position in Cencora, Inc. (NYSE:COR)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 53,869 shares of the company’s stock, valued at approximately $13,090,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dash Acquisitions Inc. acquired a new stake in Cencora during the 1st quarter worth $201,000. Allspring Global Investments Holdings LLC purchased a new stake in Cencora during the 1st quarter valued at approximately $50,337,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Cencora during the 1st quarter worth approximately $11,225,000. Steele Capital Management Inc. purchased a new position in shares of Cencora in the 1st quarter valued at approximately $409,000. Finally, Oak Thistle LLC acquired a new position in shares of Cencora in the first quarter valued at approximately $262,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cencora news, EVP Gina Clark sold 1,874 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares in the company, valued at approximately $2,973,756.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gina Clark sold 1,874 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Corporate insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COR. Robert W. Baird increased their price target on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Citigroup lifted their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, SVB Leerink restated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.30.

Cencora Price Performance

Shares of NYSE:COR traded down $1.02 during midday trading on Tuesday, hitting $222.51. 1,455,291 shares of the stock were exchanged, compared to its average volume of 1,410,140. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The company has a 50 day moving average price of $228.85 and a 200-day moving average price of $228.32. The stock has a market cap of $44.38 billion, a P/E ratio of 24.46, a PEG ratio of 1.57 and a beta of 0.45.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the firm posted $3.50 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts forecast that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.